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What is Black Friday?
Black Friday is a major shopping day with big discounts on both in-store and online purchases, occurring the day after Thanksgiving. It is the unofficial start of the retail shopping season for holidays celebrated in December and early January.
Black Friday Deals originated in the United States. Traditionally, deep discounts were offered as doorbuster promotions early in the morning on the day after Thanksgiving, which is always the fourth Thursday in November.
By the early 2020s, e-commerce, and mobile shopping transformed Black Friday from a single-day occurrence at a single brick-and-mortar (B&M) location into a broader promotional period that has been adopted by marketers in many other countries.
Key Takeaways
- Black Friday is the day after the fourth Thursday in November.
- It originated in 1960s Philadelphia when police used the term to describe post-Thanksgiving shopping crowds.
- Some trace the name back to the 1869 crash of the US gold market.
- Traditionally, it marked the start of holiday shopping in the U.S.
- Early Black Friday deals focused on doorbuster strategies to draw shoppers to stores.
- Digital technology like computers and smartphones expanded access to deals, no longer limited to in-store shopping or a specific day.
- Consumer spending on Black Friday is often viewed as a measure of economic health.
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History of Black Friday
Why is Black Friday called Black Friday? There are a few theories about where the name came from:
In the 1950s and 1960s, police in Philadelphia used “Black Friday” to describe the chaotic day after Thanksgiving when crowds of shoppers and tourists caused traffic jams and increased shoplifting, creating a headache for law enforcement.
A popular myth suggests that Black Friday marks the day when retailers move from operating at a loss (“in the red”) to making a profit (“in the black”), though this is more a rebranding effort by retailers to give the day a positive spin.
Some people trace the term back to the US gold market crash on Friday, September 24, 1869, when a financial scheme caused a market collapse, though this has no connection to the shopping event.
Another theory is that Black Friday referred to post-Thanksgiving slave auctions in the US, but this has been debunked and has no basis in historical fact.
Until the middle of the last century, the term Black Friday had negative connotations related to employee absenteeism and crowd management issues the day after Thanksgiving.
In the 1980s, however, marketers created the legend that on Black Friday, retailers could go from being “in the red” (operating at a loss) to “in the black” (turning a profit). This explanation resonated with consumers and helped turn Black Friday into a major shopping event.
For several years afterward, media pundits used Black Friday sales figures to gauge consumer confidence. Strong sales allegedly indicated consumers were optimistic about the economy, and weak sales signaled economic uncertainty.
How Black Friday Impacts the Holiday Shopping Season
Black Friday Deals have become a marketing strategy that often starts earlier than the Friday after Thanksgiving and continues after Cyber Monday.
There are even Black Friday in July events designed to compete with Amazon Prime Day and “Black Friday in October” sales designed to capture data that can be used to guide marketing strategies for November and December.
What are Black Friday Sales?
Black Friday sales tend to offer substantial discounts for smart televisions, gaming PCs, appliances, toys, and other popular gift items.
Initially, the doorbuster deals were designed to excite consumers and create a sense of urgency for getting to the mall as early as possible.
From the 1980s through the early 2010s, early morning hours and limited-time offers successfully created a sense of urgency and fear of missing out (FOMO) among consumers.
While this made shopping the day after Thanksgiving a cultural phenomenon, it also led to chaos, injuries, and even deaths as shoppers rushed to get the best deals.
What Time Does Black Friday Shopping Begin?
Black Friday shopping officially begins at 12:00 a.m. on the Friday that follows the fourth Thursday of November. It’s important to note, however, that the label “Black Friday Deals” has become more symbolic than literal in recent years.
Today, many retailers offer Black Friday Deals online and in-store over the course of several days or even weeks. Marketers have found that customer experience management strategies emphasizing convenience are more effective than yesterday’s pureplay FOMO strategies.
Black Friday vs. Cyber Monday
In 2005, the National Retail Federation (NRF) coined the term “Cyber Monday” to describe the busiest day of the year for online shopping. At that time, the typical consumer would shop in stores over the holiday weekend and wait to shop online when they went back to work on Monday. (Most homes at this time had dial-up connections that were notoriously slow!)
Ten years later, improvements in technology and the growing popularity of smartphones accelerated the convergence of Black Friday and Cyber Monday. As a result, the statistical differences between the two events have blurred.
Significance of Black Friday
Black Friday is the unofficial kickoff to (arguably) the busiest time of the year for in-store retail sales and e-commerce sites.
In recent years, Black Friday and Cyber Monday have been joined by Small Business Saturday, a celebration of local brick-and-mortar stores, and Giving Tuesday, a day to donate to charitable causes.
Black Friday Pros and Cons
While Black Friday Deals benefit both retailers and their customers, the promotions also come with challenges that need to be managed carefully.
- Encourages early holiday shopping
- Relatively easy way for retailers to clear out inventory before the end of the year
- Increased consumer spending can stimulate the economy
- Consumers who receive good discounts are more likely to become repeat customers
- Deep discounts can lead to impulse buying and overspending
- Overcrowded stores and long lines are stressful for both retail employees and consumers
- In-store and online financial transactions can be exploited by cybersecurity threat actors
Where Can You Find the Best Black Friday Deals?
You can find out about the best Black Friday Deals through a wide variety of communication channels, including:
- Retail websites
- Coupon websites
- Opt-in email newsletters
- Retail social media accounts
- Traditional print advertisements and circulars
The Bottom Line
Black Friday definitions began to focus on retail shopping by the 1980s. Today, retailers are using the term to promote sales throughout the year, and shoppers have come to expect Black Friday discounts beyond the traditional Friday after Thanksgiving.
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References
- Ultimate Guide to Black Friday in Japan (Zenmarket)
- How Black Friday Got Its Name (Theatlantic)
- The History and Importance of Black Friday | Walden University (Waldenu)
- Best Black Friday in July 2024 Ads (Theblackfriday)
- Black Friday Death Count (Blackfridaydeathcount)
- NRF | Voice of Retail (Nrf)
- Small Business Saturday | U.S. Small Business Administration (Sba)
- Home – GivingTuesday (Givingtuesday)
